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Oracle PPM Cost Transfers

Oracle PPM Cost Transfers

Oracle PPM Cost Transfer Feature Launches December 21, 2020
A cost (expense) transfer occurs when expenses are moved from one accounting distribution to another after they have been recorded in Oracle Financials (OFC). The new Oracle PPM cost transfer functionality will allow users to initiate transfers for transactions from

  • Project to Project
  • Single Project from one Task to another Task
  • Single Project from one funding source to another
  •  Non-Projects to Projects and vice versa

Self-Help Resources:

Key Takeaways

  • Use Oracle native functionality, RACTA will no longer be an option
  • Oracle has limited functionality for cost transfers with workflow
    • We are working with them to improve their product
  • More responsibility on department approvers as OPAFS is no longer part of the pre-review
  • Future enhancements will be rolled out
  • Reporting dashboard is coming in January 2021
  • Dashboard will include:
    • Post-Audit review report
    • Department ability to see all transfers processed
    • Department ability to see current status of transfers including completed, pending, and rejected non-salary cost transfers
  • Cost Transfer Service & Support tickets received by Friday, Dec 11, 2020  will be process by OPAFS
  • If you want to withdraw your ticket and process with the new process, please log into your Service & Support ticket and close it
Questions, login to the  Business & Finance Services & Support portal, select Related to: Post Award Financial and About: Cost Transfer Inquiries.